Changpeng Zhao | ForkLog

ForkLog 14 02.10.2024

Forbes: Changpeng Zhao Amassed $25 Million Daily During Incarceration

The fortune of Binance co-founder and former CEO Changpeng Zhao (CZ) grew by approximately $3 billion during his prison term, according to an estimate by Forbes. This suggests that the entrepreneur “earned” about $25 million for each of the 117 days of his incarceration, as noted by Protos. On April 30, a court sentenced Zhao […]

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ForkLog 79 28.09.2024

Binance Founder Released Ahead of Schedule

Binance co-founder and former CEO Changpeng Zhao (CZ) has been released two days earlier than the end of his detention period, according to Bloomberg. The entrepreneur served a four-month prison sentence on charges of money laundering and other illegal activities. As part of an agreement with the US Department of Justice, he agreed to pay […]

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ForkLog 32 05.09.2024

Binance Permanently Removes Changpeng Zhao from Management

The cryptocurrency exchange Binance has permanently removed former CEO Changpeng Zhao (CZ) from management. This was reported by Axios, citing the current head of the company, Richard Teng. The entrepreneur’s plea agreement with the U.S. Department of Justice mentioned a three-year term. CZ is serving a four-month prison sentence for charges related to money laundering […]

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ForkLog 22 22.08.2024

Binance Dismisses IPO Plans Amid Strong Financial Standing

Cryptocurrency exchange Binance is in a stable financial position and therefore does not consider an IPO. This was stated by the platform’s CEO Richard Teng in an interview with CoinDesk. “From the fifth month of operation, Binance became profitable, being very prudent in terms of expenses. So the topic [of an IPO] is not currently […]

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ForkLog 10 21.08.2024

New Class Action Lawsuit Filed Against Binance and Changpeng Zhao

A lawsuit has been filed in the Seattle federal court against Binance and its founder, Changpeng Zhao. According to the complaint, three crypto investors were unable to recover stolen assets because the exchange failed to prevent money laundering. The document states that the perpetrators stole cryptocurrencies from the plaintiffs and subsequently used the platform to […]

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ForkLog 51 01.08.2024

Pavel Durov Joins Bloomberg’s Billionaires Index

Telegram founder Pavel Durov has been included for the first time in the Bloomberg Billionaires Index (BBI). He ranks 279th out of 500 with a net worth of $9.15 billion. The Bloomberg list is topped by serial entrepreneur Elon Musk with $252 billion. U.S. presidential candidate Donald Trump is near the bottom, at 499th place, […]

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ForkLog 23 26.07.2024

Clarified Release Date for Binance Founder Changpeng Zhao

Contrary to the expectations of some community members, Binance founder and former CEO Changpeng Zhao (CZ) will not be released in August. This was highlighted by Protos. BIG BREAKING ? CZ is getting out of prison next month: sources ? Soon my bro is back @cz_binance pic.twitter.com/L2INUFEDXc — Pain | Akatsuki? (@Pain_Bsc) July 25, 2024 […]

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ForkLog 9 17.07.2024

Bloomberg Apologises to Changpeng Zhao

Bloomberg Businessweek in China acknowledged a “glaring error” in its 250th issue dated July 6, 2022, retracting the false and unfounded cover headline “Changpeng Zhao’s (CZ) Ponzi Scheme.” This was reported by Modern Media, the magazine’s publisher in China. “We unreservedly retract this defamatory statement and sincerely apologise for any harm or distress caused to […]

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ForkLog 21 29.06.2024

Court Allows Most SEC Claims Against Binance to Proceed

Judge Amy Berman Jackson of the District Court for the District of Columbia has partially dismissed the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance, though most allegations will be considered. She granted the exchange’s motion to dismiss the regulator’s claims regarding secondary sales of the BNB token, the offering of the BUSD stablecoin, […]

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ForkLog 44 15.06.2024

Forbes: Changpeng Zhao Holds 64% of Circulating BNB

Changpeng Zhao (CZ), the founder of the cryptocurrency exchange Binance, holds 64% of the total BNB supply—nearly 94 million BNB (~$57 billion), according to Forbes. The publication states that CZ ranks 24th among the world’s wealthiest individuals with a net worth of $61 billion. He leads the list of crypto billionaires, followed by Coinbase founder […]

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ForkLog 33 01.06.2024

Changpeng Zhao Begins Prison Sentence in California

Former CEO of the cryptocurrency exchange Binance, Changpeng Zhao (CZ), has arrived at the federal prison in Lompoc, California, to serve his sentence. This was reported by CNBC. The information was confirmed to the publication by the law firm Latham & Watkins, which represented Zhao. In late April, a federal court in Seattle sentenced the […]

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ForkLog 9 02.05.2024

CoinDesk Explores Reasons Behind Lenient Sentence for Binance’s Changpeng Zhao

Former Binance CEO Changpeng Zhao (CZ) was sentenced to four months in prison, a relatively short term attributed to his reputation, according to CoinDesk. During the hearings, the judge, lawyers, and even prosecutors acknowledged that CZ was not a “typical defendant” in criminal cases. They viewed him as a philanthropist, a first-time offender, and a […]

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